TAILIEUCHUNG - Human development index impact on economic growth

Several studies have explored the determinants of economic growth among countries. The research generally refers to factors such as physical capital/capital, labor, technology, infrastructure, policy institutions, the openness of the economy. However, previous studies rarely mention the human development index (HDI). | Journal of Science Ho Chi Minh City Open University - VOL. 2 18 2016 - June 2016 3 HUMAN DEVELOPMENT INDEX IMPACT ON ECONOMIC GROWTH Pham Tan Hoa1 Le Thanh Liem2 Nguyen Kim Phuoc3 Kien Tuong Town Long An Province Vietnam. 2 People s Committees in Ho Chi Minh City Vietnam. 3Ho Chi Minh City Open University Vietnam. Email pthoavhung@ Received March 30 2016 Revised May 07 2016 Accepted May 17 2016 ABSTRACT Several studies have explored the determinants of economic growth among countries. The research generally refers to factors such as physical capital capital labor technology infrastructure policy institutions the openness of the economy. However previous studies rarely mention the human development index HDI . This study reviewed the human development index HDI and other factors affecting the economic growth of nations. The research based on the theory of Solow 1956 Chiu Hsu Wang 2006 and Ferreira-Lopes Sequeira 2011 . Reseach data from the data collected by the World Bank to analyze samples in 30 countries during the period 1999-2014 . Table of data regression results table Pooled FEM and REM show that HDI has a positive impact on economic growth of countries. Based on the study results the recommendations are proposed in order to promote stability growth in countries and to ensure the harmony economic growth between and the goals of social development. Keywords GDP HDI Economic Growth. 1. Introduction Some developed and developing countries have not only many development opportunities but also challenge to be addressed. Besides challenges such as underdeveloped infrastructure poor specialization and weak competitiveness scientific qualification and technology as well as labor force skills shortage and income top also are major challenges. These challenges affect the stability development of nations. In the current period a number of countries including developed and developing countries are losing the outside advantages therefore to ensure the quality

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